FIAT FLOW SOLUTIONS LTD.

• ⚠

  Material uncertainty over going concern

  As stated in Note 2, the director and senior management have considered the cashflow requirements of the group whilst improving operational efficiency to generate future profits, however, the loss in the current period and in the previous balance sheet period together with the unpredictability and uncertainty inherent in the crypto industry indicates a material uncertainty exists that may cast doubt on the group's ability to continue as a going concern.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +27%

  USD 176,197,825 → USD 223,732,708

• Cash

  +22.1%

  USD 3,597,237 → USD 4,392,181

• Net assets

  -46.5%

  USD 3,604,341 → USD 1,928,572

• Employees

  +6.3%

  79 → 84

  highest in 3 filed years

• Operating profit

  +61.1%

  USD -7,345,151 → USD -2,855,752

• Profit before tax

  +65.1%

  USD -7,613,376 → USD -2,657,140

• Wages

  -43.8%

  USD 5,838,397 → USD 3,278,577

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Belluzzo Audit Limited

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“As stated in Note 2, the director and senior management have considered the cashflow requirements of the group whilst improving operational efficiency to generate future profits, however, the loss in the current period and in the previous balance sheet period together with the unpredictability and uncertainty inherent in the crypto industry indicates a material uncertainty exists that may cast doubt on the group's ability to continue as a going concern.”

Group structure

1. FIAT FLOW SOLUTIONS LTD. · parent
   1. Nospread Tecnologia Srl 90% · Argentina · Financial and other intermediary services
   2. BTC Trade SRL 90% · Argentina · Intermediary services to parent
   3. Buenbit SAC 95% · Uruguay · Intermediary services
   4. BKR Argentina S.A. 100% · Argentina · Financial Services - Prepaid Card
   5. Descentralizado S.A.S. 90% · Argentina · Intermediate Holding co.
   6. Divizen S.A.S (ex Ahorremos S.A.S) 90% · Argentina · Not trading
   7. Soluciones DEFI S.R.L 90% · Argentina · Not trading
   8. Buengroup S.A.U (BGS) 100% · Argentina · Intermediate Holding company
   9. Buengiro S.A. de CV 100% · Mexico · Financial and other intermediary services
   10. Buenfintech SAS 100% · Colombia · Financial and other intermediary services
   11. Oware S.A.S 100% · Uruguay · Hosts trading platform

Significant events

• “In January 2025, the Argentine Customs Collection and Control Agency (ARCA) removed the tax reduction on debit and credit transactions in Argentine banks, leading to higher expenses for BTC Trade S.R.L., which manages the Company's on- and off-ramp operations.”
• “In March 2025, the National Securities Commission (CNV) issued Resolution 1058/2025, requiring entities defined as "Virtual Asset Service Providers" (VASPs) to register before commencing such activities. In response, Buenbit Cripto S.A. was incorporated in July 2025 and is awaiting CNV approval. Once granted, the Company will transfer the Argentine virtual asset operations from Oware S.A.S. to Buenbit Cripto S.A.”
• “In May 2025, the Court of Appeals annulled the first of three charges brought in 2020 by the Central Bank of the Argentine Republic against Nospread Tecnología and reduced the second from USD 200,000 to USD 3,000. In September 202 asset injunction linked to the third charge was reduced from USD 1,500,000 to USD 200,000.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.